The data: coverage, periodicity, and timeliness

Coverage characteristics

Data are disseminated in thousands of New Zealand dollars at face value for coin mintings. This series represents coin ordered during the year, but not necessarily in circulation. The series start in 1967.

The Reserve Bank of New Zealand (the central bank) has a legal monopoly over the right to issue currency. In New Zealand, the New Zealand dollar is legal tender. As monetary liabilities of the central bank, the currency generally acts as the unit of account (or numeraire) for New Zealand – ie contracts are generally denominated in New Zealand dollars and cents (although there is no legal obligation to do so).

Mintage figures quoted are for circulation coin only and do not include collector's sets or individual collector's coins.

Periodicity

Bi-annual

Timeliness

Data for coin mintage is released in April and September each year

Access by the public

Statistics release calendar

The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.

Integrity

Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

One of the Reserve Bank's key statutory obligations is to provide New Zealand's currency. The information in these tables is provided for reasons of public interest only.

Provision of information about revisions and advance notice of major changes in methodology

Provisional data are italicised. Data are deemed provisional when a series is under review. New data, or revised data, are in bold font. This applies to the summary table only and not excel files. Revisions are generally published when the table is next due to be updated and released. Should revisions need to be made more promptly, a special note is posted on the RBNZ website.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

Data are extracted from the RBNZ electronic system for recording movements (including new issues, re-issues and notes destroyed) in New Zealand currency.

Dissemination of statistics that support statistical cross-checks and provide assurance of reasonableness

The Reserve Bank of New Zealand (the central bank) has a legal monopoly over the right to issue currency and therefore the only provider of currency in New Zealand.

Additional notes

In New Zealand the Reserve Bank of New Zealand has the sole right to issue bank notes and coin.

Registered banks pay the Reserve Bank the face value of the currency being issued to them. These funds are invested in New Zealand government securities, which are included in local currency financial assets on the Reserve Bank's balance sheet to offset the currency in circulation liability. Currency in circulation is a non-interest bearing liability. However, the New Zealand government securities investment portfolio asset is interest bearing. The income directly associated with the issue of currency is referred to as seigniorage and provides the Bank with its main source of income.

New Zealand currency in circulation in the Money and credit aggregates (Table C1) provides alternative measures of notes and coin:

where hands of the public also excludes till money of surveyed institutions

currency includes coins actually in circulation (not based on numbers minted)

Coin mintings

The figures for each year represent the face value of and number of coin
orders placed with coin manufacturers or mints. Coins do not necessarily go into
circulation in the same year they are minted. Some mint coin remains in the
vaults of the Reserve Bank, to be available for circulation upon demand. The
Decimal Currency Act, 1964 laid out the migration to a decimalized
system of currency. Decimal coins first appeared in circulation on 10 July 1967.
On 31 March 1989, the issue of 1 and 2 cent pieces ceased. Both coins were
demonetised on 30 April 1990. On 11 February 1991, new $1 and $2 coins were
introduced to replace the $1 and $2 notes. On 31 July 2006, the issue of 5 cent
pieces ceased. The coin was demonetised on 1 November 2006.

Symbols and conventions for summary table

0

Zero or value rounded to zero

-

Not applicable

..

Not available

bold

Revised/new

italics

Provisional

light red background

Historical

General notes

Individual figures may not sum to the totals due to rounding

Percentage changes are calculated on unrounded numbers

You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.